Intuitive Surgical, Inc. $ISRG Shares Acquired by Factory Mutual Insurance Co.

Key Points

• Factory Mutual Insurance increased its Intuitive Surgical holdings by 41.7% in the third quarter, adding 55,373 shares to reach 188,198 shares, valued at about $76.5 million.
• Intuitive Surgical reported quarterly EPS of $3.00 and revenue of $3.05 billion, beating analyst estimates; revenue rose 21.7% year over year.
• Analysts’ consensus rating was “Moderate Buy,” with an average price target of $493.54.

Factory Mutual Insurance Co. lifted its holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 41.7% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 188,198 shares of the medical equipment provider's stock after purchasing an additional 55,373 shares during the period. Factory Mutual Insurance Co. owned approximately 0.05% of Intuitive Surgical worth $76,527,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Main Street Group LTD purchased a new position in Intuitive Surgical in the 1st quarter valued at approximately $30,000. North Point Portfolio Managers Corp OH acquired a new position in shares of Intuitive Surgical in the third quarter worth $27,000. John Boyer Inc. acquired a new position in shares of Intuitive Surgical in the third quarter worth $27,000. Compass Wealth Management LLC acquired a new position in shares of Intuitive Surgical in the third quarter worth $29,000. Finally, Evergreen Advisors LLC purchased a new stake in shares of Intuitive Surgical during the first quarter worth $35,000. 83.64% of the stock is owned by hedge funds and other institutional investors.

Intuitive Surgical Trading Up 0.9%

Shares of NASDAQ:ISRG opened at $440.75 on Wednesday. Intuitive Surgical, Inc. has a 52 week low of $328.57 and a 52 week high of $603.88. The company's 50 day moving average is $404.05 and its two-hundred day moving average is $432.90. The company has a market cap of $152.78 billion, a PE ratio of 53.30, a P/E/G ratio of 3.01 and a beta of 1.45.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last announced its quarterly earnings data on Tuesday, October 20th. The medical equipment provider reported $3.00 earnings per share for the quarter, beating analysts' consensus estimates of $2.65 by $0.35. The business had revenue of $3.05 billion for the quarter, compared to analyst estimates of $2.91 billion. Intuitive Surgical had a net margin of 25.54% and a return on equity of 18.17%. The company's revenue was up 21.7% on a year-over-year basis. During the same period last year, the business earned $2.40 EPS. As a group, equities research analysts expect that Intuitive Surgical, Inc. will post 9.37 EPS for the current year.

Insider Activity

In other Intuitive Surgical news, VP Fredrik Widman sold 4,047 shares of the firm's stock in a transaction on Friday, October 23rd. The stock was sold at an average price of $453.21, for a total value of $1,834,140.87. Following the sale, the vice president directly owned 1,026 shares in the company, valued at $464,993.46. This trade represents a 79.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Amy L. Ladd sold 400 shares of Intuitive Surgical stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $379.00, for a total value of $151,600.00. Following the sale, the director directly owned 251 shares of the company's stock, valued at $95,129. This trade represents a 61.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 38,778 shares of company stock valued at $16,814,967. Insiders own 0.60% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on ISRG shares. BMO Capital Markets reiterated an "outperform" rating on shares of Intuitive Surgical in a research note on Monday, July 20th. BTIG Research reiterated a "buy" rating and issued a $454.00 target price on shares of Intuitive Surgical in a report on Wednesday, October 21st. Zacks Research raised Intuitive Surgical from a "hold" rating to a "strong-buy" rating in a research note on Thursday, October 22nd. JPMorgan Chase & Co. boosted their target price on Intuitive Surgical from $450.00 to $475.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 21st. Finally, Robert W. Baird upped their price target on Intuitive Surgical from $513.00 to $550.00 and gave the stock an "outperform" rating in a report on Wednesday, October 21st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $493.54.

Intuitive Surgical Profile

Intuitive Surgical, Inc develops and manufactures robotic-assisted systems and related technologies for minimally invasive surgery. Its products are designed to help surgeons perform procedures through small incisions while providing enhanced visualization, precision and control. The company's primary platform is the da Vinci Surgical System, which is used across a range of specialties, including urology, gynecology, general surgery, cardiothoracic surgery and other procedures.

The company also offers the Ion endoluminal system, which is designed to support minimally invasive lung biopsy procedures.

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